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douglas9

(4,474 posts)
Fri Aug 25, 2023, 07:43 AM Aug 2023

The 100 Largest Low-Wage Employers Have Spent $341 Billion on Stock Buybacks Since 2020

In response to strikes and union organizing drives, corporate leaders routinely insist that they simply lack the wherewithal to raise employee pay. And yet top executives seem to have little trouble finding resources for enriching themselves and wealthy shareholders.

In 2021 and 2022, S&P 500 corporations spent record sums on stock buybacks, a maneuver that pumps up stock prices by reducing the supply on the open market. Since stock-based pay makes up the bulk of executive compensation, CEOs reap huge — and completely undeserved — windfalls.

CEOs could watch cat videos all day and still reap huge windfalls through stock buybacks.



https://www.counterpunch.org/2023/08/25/the-100-largest-low-wage-employers-have-spent-341-billion-on-stock-buybacks-since-2020/

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The 100 Largest Low-Wage Employers Have Spent $341 Billion on Stock Buybacks Since 2020 (Original Post) douglas9 Aug 2023 OP
This should be made illegal again BlueIn_W_Pa Aug 2023 #1
Let's make it illegal for CEOs multigraincracker Aug 2023 #2
K/R appalachiablue Aug 2023 #3
 

BlueIn_W_Pa

(842 posts)
1. This should be made illegal again
Fri Aug 25, 2023, 08:04 AM
Aug 2023

"Buybacks were illegal throughout most of the 20th century because they were considered a form of stock market manipulation."

multigraincracker

(34,016 posts)
2. Let's make it illegal for CEOs
Fri Aug 25, 2023, 09:25 AM
Aug 2023

to own any stock in the company they run. Seems to be a conflict of interest.

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